Perfect Announces Shareholders’ Approval of Merger Agreement
NEW YORK, October 19, 2026--Perfect Corp. (NYSE: PERF) ("Perfect" or the "Company"), a leading artificial intelligence ("AI") company offering AI and augmented reality ("AR") powered solutions to beauty, fashion, photo and video creative industries, today announced that at an extraordinary general meeting held today, the Company's shareholders voted in favor of, among other things, the proposal to authorize and approve the previously announced Agreement and Plan of Merger (the "Merger Agreement"), dated as of July 10, 2026, between the Company and ProjectNY, an exempted company with limited liability incorporated under the laws of the Cayman Islands controlled by Ms. Alice H. Chang ("Merger Sub"), the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger"), and the transactions contemplated thereby, including the Merger (as defined below).
Pursuant to the terms of the Merger Agreement, at the effective time of the Merger, Merger Sub will merge with and into the Company (the "Merger"), with the Company surviving the Merger as the surviving company (the "Surviving Company").
Approximately 68.6% of the Company's total ordinary shares issued and outstanding as of the close of business in New York on the record date of September 8, 2026 (the "Record Date") were represented in person or by proxy at the extraordinary general meeting. Each shareholder has one vote for each class A ordinary share and ten votes for each class B ordinary share. These shares represented approximately 87.4% of all votes attaching to all issued and outstanding shares of the Company as of the Record Date and entitled to vote at the extraordinary general meeting. The Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger, were approved by approximately 99.99% of the total votes cast by the holders of the issued and outstanding shares of the Company present and voting in person or by proxy at the extraordinary general meeting.
Completion of the Merger is subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. The Company will work with the other parties to the Merger Agreement towards satisfying all other conditions precedent to the Merger set forth in the Merger Agreement and completing the Merger as quickly as possible. If and when completed, the Merger would result in the Company becoming a privately held company.
About Perfect Corp.
Founded in 2015, Perfect Corp. is a leading AI company offering self-developed AI- and AR- powered solutions dedicated to transforming the world with digital tech innovations that make your virtual world beautiful. On Perfect's direct consumer business side, Perfect operates a family of YouCam consumer apps and web-editing services for photo, video and camera users, centered on unleashing creativity with AI-driven features for creation, beautification and enhancement. On Perfect's enterprise business side, Perfect empowers major beauty, skincare, fashion, jewelry, and watch brands and retailers by supplying them with omnichannel shopping experiences through AR product try-ons and AI-powered skin diagnostics. With cutting-edge technologies such as Generative AI, real-time facial and hand 3D AR rendering and cloud solutions, Perfect enables personalized, enjoyable, and engaging shopping journey and helps brands elevate customer engagement, increase conversion rates, and propel sales growth. Throughout this journey, Perfect maintains its unwavering commitment to environmental sustainability and fulfilling social responsibilities. For more information, visit https://ir.perfectcorp.com/.